USD/CHF Up 4 Pips On Hourly Chart, 2 Day Down Streak Ended; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 23, 2021 1:57 GMT)

Currently, USDCHF’s rate is up 4 pips (0.04%) from the hour prior. This is the 2nd hour in a row USDCHF has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDCHF. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USDCHF continues; to start today, it came in at a price of 0.92615, up 25 pips (0.27%) since yesterday. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 12th in terms of percentage change since yesterday. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

The first thing we should note is that USDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.